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Question 3 (Single Pricing): Consider a small theme park that can serve up to 1,000 customers per day. During the summer, demand follows a stable
Question 3 (Single Pricing): Consider a small theme park that can serve up to 1,000 customers per day. During the summer, demand follows a stable and predictable pattern, with higher on weekends than during weekdays. The theme park has a marginal cost of zero per customer. The demand response function follows a logit function as given below: d(p)=D(1+e(a+bp)e(a+bp)) Find the single price that will maximize the revenue of the theme park Question 4 (Variable Pricing): Find the variable pricing (for each day of the week) that maximize the revenue of the theme park Question 3 (Single Pricing): Consider a small theme park that can serve up to 1,000 customers per day. During the summer, demand follows a stable and predictable pattern, with higher on weekends than during weekdays. The theme park has a marginal cost of zero per customer. The demand response function follows a logit function as given below: d(p)=D(1+e(a+bp)e(a+bp)) Find the single price that will maximize the revenue of the theme park Question 4 (Variable Pricing): Find the variable pricing (for each day of the week) that maximize the revenue of the theme park
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